Insider Buying: Crescent Energy (NYSE:CRGY) Insider Purchases 932 Shares of Stock

Crescent Energy (NYSE:CRGY) insider Brandi Kendall purchased 932 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was bought at an average price of $11.05 per share, for a total transaction of $10,298.60. Following the completion of the transaction, the insider now directly owns 23,347 shares in the company, valued at approximately $257,984.35. The trade was a 4.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Crescent Energy Trading Up 4.5 %

Shares of CRGY stock traded up $0.51 on Wednesday, hitting $11.71. The stock had a trading volume of 2,923,482 shares, compared to its average volume of 2,852,564. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a fifty day moving average price of $14.20 and a two-hundred day moving average price of $13.48. The firm has a market cap of $3.03 billion, a P/E ratio of 18.88 and a beta of 2.18.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.10%. Crescent Energy’s dividend payout ratio (DPR) is currently -69.57%.

Institutional Trading of Crescent Energy

Several hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its position in Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after acquiring an additional 705 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares during the period. Quarry LP lifted its holdings in shares of Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares in the last quarter. Amalgamated Bank boosted its position in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after buying an additional 2,272 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CRGY. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Raymond James upped their price objective on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Citigroup lowered Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.45.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.